(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations give effect to European Parliament and Council Directive No. 2008/122/EC on the protection of consumers in respect of certain aspects of timeshare, long-term holiday product, resale and exchange contracts.

These Regulations are concerned with the information on the constituent parts of a contract that have to be provided by the trader to the consumer and arrangements for communication of that information so that the consumer can have all the information necessary to make a decision.

These Regulations provide that those seeking information on timeshare properties must be supplied with information, giving a description of the property, details on the trader, location of property, the exact nature and content of the rights being purchased, the period and duration of the contract, its current status (e.g. under construction), associated services and facilities, the price to be paid and any other obligatory costs. It must also include the right or otherwise of resale or exchange for another property.

In these Regulations the information specified in the attached Schedules form an integral part of the contract, which has to be in writing, on paper or another durable medium and cannot be altered unless the parties expressly agree to the changes or the changes result from unforeseen circumstances beyond the trader's control and a copy of the contract has to be given to the consumer.

Other provisions of these Regulations deal with the right of withdrawal from the contact, a ban on advance payments prior to the signing of the contract and the language regime for contracts.